EU Vows To Fight De Beers Ruling

Law360 (September 4, 2007, 12:00 AM EDT) -- Still smarting from an earlier defeat, the European Commission has decided to renew its attack against an allegedly anti-competitive agreement between diamond industry giants De Beers Consolidated Mines Ltd. and Alrosa Co. Ltd.

The commission on Wednesday signaled its intention to appeal the decision handed down in July by the European Court of First Instance, which had accused the commission of overstepping its bounds in an attempt to crack down on a perceived monopoly in the rough diamond trade.